The dramatic fall in the beef price over the past few months is a major concern for the livestock industry and pressure group Farmers for Action have said they can 'no longer' sit back and watch beef prices collapse in the way they are.FFA Chairman David Handley said with the threat of a further Latin American deal in the offing, "something has to be done to protect British beef farmers."Beef farmers are angry that a year after the ‘horsegate’ scandal, many retailers and processors are not living up to their commitments that they would work more closely with farmers. The NFU has been vocal in highlighting the damage that this extreme price volatility will cause in an industry with a production cycle stretching over many years.NFU Chairman of the Livestock Board Charles Sercombe said: “There have been calls from the processing industry that we need a vision for the beef industry. The NFU has already outlined its vision for the beef industry and we want to work with organisations across the supply chain to achieve the aims we set out in it.“The whole industry must come together to work to ensure that consumers can continue to enjoy a sustainable supply of British beef and that all parts of the chain receive a sustainable reward from the market.”FFA said this is a massive economic part of our industry. For several weeks now we have monitored both labeling of meat products and also carried our surveillance at a number of meat processing plants. The information gathered has led the FFA's committee to come to the decision - action has to be taken immediately.